Bengal delegation explores investment opportunities in Spain with PCM Group

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Bengal delegation explores investment opportunities in Spain with PCM Group

Bengal delegation explores investment opportunities in Spain with PCM Group

Industry News
Sep 20,23

PCM Group of Industries expressed its interest in establishing a hotel and two manufacturing plants in the state of West Bengal.

Bengal delegation explores investment opportunities in Spain with PCM Group

A delegation from the Bengal government, led by Chief Secretary HK Dwivedi and Industry Secretary Vandana Yadav, visited the factory facilities of Travipos in Constanti, Spain. Travipos is a subsidiary of PCM Railone, a company headquartered in Siliguri. During the visit, the PCM Group of Industries expressed its interest in establishing a hotel and two manufacturing plants in the state of West Bengal.

Kamal Kumar Mittal, Chairman of the PCM Group, informed that the company was planning to invest Rs 150 crore to set up an ethanol plant in Siliguri with a daily production capacity of two lakh litres. Additionally, they intended to establish a concrete sleeper manufacturing plant in North Bengal, complementing the existing unit in New Jalpaiguri, with an investment exceeding Rs 100 crore.

Mittal emphasised the global presence of the PCM Group, operating in 14 countries, including Spain, Germany, and West Asia, and being a prominent manufacturer of railway sleepers. He expressed confidence in Bengal, which is why the company chose to have its headquarters in Siliguri.

Apart from the ethanol and sleeper manufacturing units, the PCM Group is also interested in constructing a five-star hotel in Siliguri, as mentioned by Mittal, who was part of the delegation accompanying the Chief Minister.

A government source revealed that the plans of the PCM Group, which employs more than 3,500 people worldwide, could have a transformative impact on the region's development, potentially generating employment opportunities for approximately 2,000 individuals.

The delegation, comprising business leaders and government officials, toured the factory in Constanti, located 100 km from Barcelona, where Chief Minister Mamata Banerjee arrived on Sunday evening. She is scheduled to preside over a campaign event in the Catalonian metropolis on Tuesday, aimed at attracting investors to the Bengal Global Business Summit scheduled for November.

Travipos, a part of the PCM Group with a turnover exceeding Rs 2,000 crore, specialises in the production of railway sleepers for Spain Railways. The Constanti factory, in collaboration with the Spanish company Comsa, manufactures over 45,000 sleepers per month and serves as a major supplier to Spain Railways.

The PCM Group found motivation in the state's ethanol production promotion policy, which encourages investments in the sector through financial and non-financial incentives. These incentives include exemptions from land mutation and conversion fees, stamp duties, and electricity duties.

Bengal benefits from an ample supply of maize and broken rice, which can be readily converted into ethanol. In 2018, the BJP-led Central Government had introduced a national policy on biofuels, setting a target of using 20% ethanol-blended petrol by 2025.

Source: The Telegraph